involuntary unemployment …

similarity of the pattern of segmentation across 66 different countries. The paper goes on to consider how unemployment might be … understood in a labor market segmentation framework. Existing models of unemployment in a dual labor market suggest that … unemployment should be concentrated among those who are ultimately employed in high wage jobs. In fact, unemployment seems to be …

similarity of the pattern of segmentation across 66 different countries. The paper goes on to consider how unemployment might be … understood in a labor market segmentation framework. Existing models of unemployment in a dual labor market suggest that … unemployment should be concentrated among those who are ultimately employed in high wage jobs. In fact, unemployment seems to be …

unemployment volatility puzzle (Shimer, 2005). Moreover, positive or negative shocks may lead employers and employees to … renegotiate low wages up and high wages down when agents' individual surpluses become negative. The model delivers rich business … cycle dynamics of wage distributions and explains why both low wages and high wages are more procyclical than wages in the …